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July 9, 2026
- Jul 9
- 4 min read
First-time Buyers Account for Half of Home Purchases in 2025
Mortgage Professional Magazine
First-time homebuyers accounted for nearly half of all new purchase loans originated by Newrez in 2025, according the lender. The 49% share represents a decline from 56% in 2022, per Newrez data, but the median age of first-time buyers held steady at 33. That's consistent with Federal Housing Finance Agency (FHFA) definitions and at odds with widely circulated National Association of Realtors figures that placed the median age of first-time buyers at 40.
Down payment data show buyers continuing to stretch. The median down payment for first-timers was 4.85% of the purchase price, with a median purchase price of $345,741, up 10% from 2022. Median borrower income for this group rose from $61,728 to $77,208 over the same period, according to Newrez.
Far More Real Estate Agents Now Report Seeing Balanced Market
CNBC
After several years of a lean and pricey housing market, real estate agents are starting to see more balance. In the second quarter of the year, 44% of real estate agents surveyed in CNBC’s Housing Market Survey said they were seeing a balanced market between buyer and seller. That share is up from 30% in the third quarter of last year, when CNBC began its quarterly survey.
The CNBC Housing Market Survey is a national inquiry of real estate agents selected randomly across the United States. Responses for the second-quarter survey were collected between June 23 and June 30. This quarter, 53 agents shared their insights.
Sellers appear to be getting more realistic when pricing their homes, not expecting the huge jumps seen in the first two years of the pandemic.
New Report Warns Housing Supply Could Outpace Demand by 2035
Fox News
A new report from the Mortgage Bankers Association argues the housing market is nearing a major demographic shift. After more than a decade of demand outpacing supply, slower population growth and an aging population are expected to reduce the need for new housing, potentially reshaping forecasts for homebuilding, home prices and affordability.
Millennials, the nation's largest generation, entered their prime homebuying years after the financial crisis, driving a surge in household formation that builders struggled to keep up with.
As demand outpaced supply, home prices climbed. The pandemic only intensified the imbalance as record-low mortgage rates unleashed another wave of buyers.
According to the report, slower population growth, lower birth rates, an aging population and reduced immigration are expected to result in fewer people looking to buy or rent homes over the next decade, even as builders continue adding new housing.
Buying a Home Has Gotten Harder for Young Adults in Most U.S. Metro Areas
Pew Research Center
Young adults in the United States are facing tough economic headwinds. For many, rising costs and a challenging job market are making it harder to afford basic expenses. That can make owning a home feel further out of reach.
About nine-in-ten adults younger than 40 (89%) say it’s harder for young adults today to buy a home than it was for their parents’ generation, according to a new Pew Research Center survey. Young adults are also less likely than older ones to say buying a home is a very good investment.
Since 2019, home prices in the U.S. have risen faster than young adults’ incomes, which has made buying a home even more challenging. This is true both at the national level and in most metropolitan areas around the country, according to a Center analysis of government data.
Kelley Blue Book Enters Home Valuation Market
Mortgage Professional Magazine
Kelley Blue Book (KBB) has launched Kelley Blue Book Homes, a residential valuation and seller lead platform built in partnership with appraisal technology firm TrueFootage. The platform is live in 10 states: Arizona, California, Colorado, Florida, North Carolina, Nevada, Oregon, Texas, Utah, and Washington. It will begin distributing leads to agents on August 1. A national rollout is planned for early 2027.
Homeowners submit property details and condition photos through the KBB Homes platform. Within 24 hours, they receive a report with a low-to-high estimated value range, with the company targeting accuracy within 3% of a final sale price.
In early test markets, 17% of homeowners who received a report listed their property on the MLS within 90 days. Verified Agent applications open July 8, with placement tied to performance metrics including sales volume, days on market, and sale-to-list ratio.
Weekly Mortgage Demand Drops As Rates Remain Stuck
CNBC
Total mortgage application volume dropped 2.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for the Independence Day holiday.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.58% from 6.57% last week, with points decreasing to 0.64 from 0.65, including the origination fee, for loans with a 20% down payment.
